Getting the Financial Management Basics Right



Getting the Financial Management Basics Right

February 19, 2018 - 8:30am to February 23, 2018 - 5:00pm

Yangon , Myanmar

Offering Organization: Mango

Language: English

Related Events


FMD Pro 1: The Essentials of Financial Management

Aug 06 to Aug 10

Yangon, Myanmar


All NGO staff have an important role to play in ensuring effective and proper use of financial resources during program implementation. During this five-day course, you will learn the key principles of good financial management and how to apply them in your workplace. Designed in a highly participatory style, this course will build your skills and confidence in how to:

  • integrate good financial management systems into operations management
  • manage and control financial resources more efficiently and effectively.

During the course participants will gain the knowledge and skills needed for the FMD Pro 1 certification examination.


This course is primarily aimed at staff in small to medium-sized NGOs who are involved in program implementation and/or the management and control of financial resources.

It is designed specifically for:

  • non-financial managers and officers who want to improve practice in financial planning, control and reporting, and
  • finance officers interested in developing their financial management skills and knowledge to improve finance systems and support for program staff.

Previous financial management experience or training is not a requirement for this course.


By the end of the workshop, you will be able to:

  • Describe key tools and concepts which help an organization achieve good practice in financial management
  • Build and use effective budgets, including project and donor budgets and cash flow forecasts
  • Explain which accounting records your organization needs to keep and why
  • Describe the key processes and methods used to keep accounting records
  • Use financial reports to monitor project performance and identify actions to keep project finances on track
  • Explain how internal controls protect NGO assets and minimize the risk and impact of fraud and errors
  • Assess the strengths and weaknesses of your NGO’s financial management system

FMD Pro 1 is a new financial management certification program for project and program staff working in the development sector. To take the FMD Pro 1 certification exam on the final day of the workshop, you will need to bring a laptop with the ability to connect to Wi-Fi.

Day 1


Welcome and overview


  • Introductions, expectations and program overview

Key concepts of financial management

  • What is financial management and why is it important for NGOs?
  • Structure and governance of NGOs
  • Good practice frameworks: Seven principles and four building blocks of financial management
  • Financial management systems:  the health check approach
  • Financial management systems: key organizing tools

Day 2


Financial Planning

  • Financial planning process
  • Types of budgets and their function
  • Practical approaches to building good budgets
  • Donor budgets and budget narratives
  • Consolidated budgets and core costs
  • Cash flow forecasting

Day 3


Accounting Records

  • Which records should you keep?
  • Practical accounting basics: advances, cash book and petty cash
  • The accounting process: cash or accruals
  • Producing simple financial reports
  • Procurement: process, people and paperwork

Day 4


Financial Monitoring

  • Financial information: who needs what, when and why?
  • Understanding financial statements
  • Using budget monitoring reports
  • Taking action to keep things on track: variances, out of date budgets and exchange rates
  • Overview of donor reporting

Day 5


Internal Controls

  • The four internal control actions
  • The role of audit
  • Fighting fraud, bribery and corruption

Summary and close

  • Action planning
  • Evaluation
  • Certificates

FMD Pro Level I

  • Examination